Mumbai, India-based Web3 platform Ethereum Push Notification Services (EPNS) raised USD 10.1 million in a Series A funding round on April 17, 2022. Jump Crypto led the funding round for EPNS.
Meanwhile, the Series A round saw participation from Tiger Global, ParaFi, Sino Global Capital, Polygon Studios, Woodstock Ventures, DCX Ventures, and Alpha Wave Capital.
Web3 leaders such as Andrew Keys of DARMA Capital; David Silverman of Aave Companies; Ajit Tripathi, Mateo a Levy; Kane Warwick, Jordan Momtazi and Justin Moses of Synthetix; Aniket Jindal of Biconomy; Anton Bukov of 1inch; Sahil Dewan of Harmony; Jerome de Tychey of Cometh and Ethereum France, Sam of Journal du Coin also invested in EPNS.
The latest funding round took EPNS’s valuation to USD 131 million.
Purpose of Funding for EPNS
With the recent proceeds from the Series A round, the firm plans to expand the team, grow the user base, and develop beyond the Ethereum ecosystem.
With a strong team, tech implementation, and resources, EPNS will push for faster protocol adoption, build wallet-to-wallet communication in Web3, and enable developers and wallets alike to integrate the protocol in the smoothest way possible.
Besides, the startup aims to cater to a million users.
What the founder has to say
“We started with Ethereum, but the goal was always multichain and what we realized was because we are soul entrants in the game and because we are the creators of this, it makes sense to allow different blockchains, so we are launching on Polygon soon, and the plan is to launch to at least five more blockchains and actually get a million users by the end of the year,” Harsh Raja, co-founder of EPNS.
In addition, Richa Joshi, the co-founder of EPNS said, “The funds from the Series A will go towards growing the EPNS team across development, operations, and business development — with a particular focus on broadening the application of EPNS beyond Ethereum and towards other layer 1s and layer 2.”
“Since our IDO on Polkastarter in April 2021, our global community has grown to over 150,000We’veve built partnerships with over 80 companies and protocols across the space, including Uniswap, Gitcoin, MakerDAO, ENS, CoinDesk, dYdX, Bancor, WazirX, and other market leaders. EPNS officially went live on the Ethereum main net in January 2022. Since then, we have powered 4 million notifications sent to over 44,400 subscribers,” she added.
What the investor has to say
Sandeep Nailwal, the co-founder at Polygon, said,” EPNS has an early mover advantage, offering its multichain services with free-transaction cost. EPNS has been building something unique, an essential tool to power the Web3 communications layer. Such a layer has been missing until now”.
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